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ThredUp releases Thrift for the Holidays report

By Rosalie Wessel

16 Nov 2021

Fashion

Image: ThredUp

ThredUp has released its Thrift for the Holidays report, revealing that nearly one in two consumers are considering secondhand alternatives due to supply chain concerns.

The report, which is conducted by third-party retail analytics firm GlobalData, was based on a survey of 2,000 consumers. The report reveals a shift in attitude towards secondhand gifts, especially as inflation and supply chain difficulties continue.

Other findings included the fact that 52 percent of consumers were concerned over popular gifts becoming more expensive this year, that one in three consumers believed it would be difficult to find gifts due to limited inventory and that 62 percent of consumers believe that secondhand gifts are more socially acceptable now.

Converse sneakers, Lululemon track jackets, Torrid jeans, Ugg boots, Reformation dresses, Patagonia fleeces, Frye boots, Coach wristlets, Vince sweaters and Kate Spade crossbody bags were listed as the top ten thrifted items on wish lists.

“In a world where retailers have been forced to raise prices due to inflation or supply-chain pressures, consumers can always find a vast and ever-fresh selection of secondhand items on ThredUp - 100 percent of which are already in stock and ready to ship. We’ve also been able to lower our average prices in order to engage as many consumers as possible and are humbled to be in a position where we can continue providing great brands at great prices during a time when many are feeling price pressure in other parts of their lives,” said James Reinahrt, co founder and CEO of ThredUp.

With consumers looking for better deals, other reasons behind secondhand shopping include an increased focus on sustainability and unique gifts. Gen Z is mainly leading the way, with 72 percent of the surveyed Gen Z’ers saying that they’d be open to receiving a second hand gift.

“It’s amazing and encouraging to see how many consumers are now open to gifting thrift. We’ve heard that consumers are growing tired of the waste of the holiday season, and are increasingly seeking more sustainable options that align with their values,” said Erin Wallace, VP of integrated marketing at ThredUp